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Use wealth tax to wipe out college debt and pay tuition



  U.S. Senator Elizabeth Warren speaks at Manchester Community College in Manchester, NH on January 12, 2019.

John Tlumacki | Boston Globe | Getty Images

U.S. Senator Elizabeth Warren speaks at Manchester Community College in Manchester, NH on January 12, 2019. Democratic presidential candidate Elizabeth Warren has identified something else to fund with her proposed wealth tax: wiping out student debt and public high school education. 19659005] div> div.group> p: first-child "/>

The Massachusetts Senator, who has advanced its 2020 rivals with detailed plans to reorganize America's economic priorities, on Monday revealed its proposal to facilitate access to [19659005] Use $ 1.25 trillion over 10 years to eliminate up to $ 50,000 in student loans for those with household income under $ 100,000

  • Allow States to Make Public Colleges Educational
  • Use $ 100 Billion on Extended Pell Scholarships to Cover more non-education courses
  • The money comes from the 2% annual tax she proposes to charge on wealth accumulations over $ 50 million, with an additional 1% on wealth over ng $ 1 billion. Warren justified the link by claiming that higher education finance has long been shrunk by tax cuts for wealthy Americans and businesses.

    "It's time to end the experiment, clearing the mess it is for caused by and do better, "wrote Warren one of the post. "We can make major structural changes and create new opportunities for all Americans."

    Warren's plan would reduce emergency aid for people with incomes above $ 100,000 and it would end up $ 250,000,000. She said her proposal would benefit 95% of the 45 million Americans carrying student loans and wipe it off for 75% of them. The steps she argued for would stimulate the economy by improving credit score, increasing home buying and facilitating the formation of small businesses.

    At the same time, it would cut off federal money from profit colleges, which she says "enrich themselves while targeting lower-income students, service members, and color shades, leaving them saddled with debt."

    Warren's wealth tax would increase the estimated $ 2.7 trillion over 10 years. She has previously proposed spending about $ 700 billion of this money to provide universal child care and early childhood education. In theory, it would leave nearly $ 1 trillion more for Warren to use.


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